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GAAP Net Income ($, millions) GAAP Net Margin $91 Q4'17 +12% $61 Q1'18 +9% $100 Q2'18(4) +14% $789 Q3'18(5) +104% $255 Q4'18 (6) +28% (4) Our Q2'18 GAAP net income of $100 million includes a $42 million net tax benefit primarily driven by the release of a deferred tax asset valuation allowance for Brazil. (5) Our Q3'18 GAAP net income of $789 million includes a $683 million net tax benefit primarily driven by the release of a deferred tax asset valuation allowance for the United States. (6) Our Q4'18 GAAP net income of $255 million includes a $120 million net tax benefit due to the change in estimate for the current year realization of our deferred tax assets. +180% Y/Y 9

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